Contract retainage definition

Contract retainage means an amount reserved by a public body from the moneys earned by a person under a public improvement contract.
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Contract retainage means all retainage as of the Closing Date under the construction Contracts of the Companies.
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Examples of Contract retainage in a sentence

  • No Contract retainage will be released prior to receipt of all approved As-Built Drawings.

  • All Contract retainage shall be released and paid to the Contractor and subcontractors pursuant to California Public Contract Code Section 7107.

  • All Contract retainage shall be released and paid to Contractor and subcontractors pursuant to California Public Contract Code Section 7107.

  • The EBD and the EBD certificate shall remain in escrow in a secured location under the control of King County during the life of the Contract and will be returned to the Contractor by King County, Procurement & Payables Section (P&P), thirty (30) days after whichever event occurs later: (1) the payment of Contract retainage, or (2) the issuance of Final Acceptance and resolution of all claims, disputes and/or litigation.